- CDPQ to provide strategic capital over four years to create an aircraft leasing and financing platform alongside world-class operator GECAS

- Platform will provide GECAS with increased flexibility to support future growth

- Investment marks new milestone in the strategic relationship between CDPQ and GE

Caisse de dépôt et placement du Québec (CDPQ), a leading institutional asset manager, and GE Capital Aviation Services (GECAS), a world leading aircraft leasing company, announced today that they have signed a commitment letter to create a USD 2-billion global aircraft financing platform. The transaction is subject to conditions including any required regulatory approvals.

This new platform, to be named Einn Volant Aircraft Leasing (EVAL), will be involved in the acquisition of modern fuel efficient aircraft from a diverse set of global airlines and in leasing them back to such airlines under long-term leases. GECAS will source the transactions and, under a sistership condition, will invest in aircraft ownership opportunities alongside the platform to further align its interests with those of EVAL. GECAS will also act as servicer for the platform.

EVAL will provide GECAS with the flexibility to finance future growth and opportunities, while serving as an entry point for CDPQ into the aircraft leasing and financing industry. In addition, it represents a key step in the expansion of the strategic relationship between GE and CDPQ, which has been built over several years.

"This platform will provide financing solutions to airlines to help support the growth of their fleet and answer essential industry needs. The high-quality aircraft will be chosen for their ability to withstand short-term cyclicality in a sector underpinned by strong long-term growth drivers," said Michael Sabia, President and Chief Executive Officer of CDPQ. "Through this platform, CDPQ's stable capital and GECAS' extensive expertise and network will combine to identify the best opportunities globally. Working with world-class operators such as GE is a fundamental part of our investment strategy, and this announcement is yet another example of this strategy in action."

"This new platform will enable continued growth and development of our global customer relationships," said Alec Burger, President and CEO of GECAS. "We are delighted CDPQ will be our strategic partner in this exciting venture, which is a natural expansion of the relationship between the highly regarded pension fund manager and GE."

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2016, it held C$270.7 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

GE (NYSE: GE) is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the 'GE Store', through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.